Fuel prices have gone up at Nayara Energy outlets across India, with petrol becoming ₹5 per litre more expensive and diesel increasing by ₹3 per litre. The price hike came into effect from Saturday amid a sharp rise in international crude oil and refined fuel prices.
The increase comes as Brent crude has crossed $102 per barrel, driven by uncertainty surrounding the conflict in West Asia and wider geopolitical tensions. Higher global oil prices have put pressure on the margins of fuel retailers. Nayara Energy operates more than 7,000 petrol pumps across the country.
State-run oil companies also under pressure
Government-owned oil marketing companies, including Indian Oil, Bharat Petroleum and Hindustan Petroleum, are also facing significant losses because domestic fuel prices have not fully reflected the rise in global crude prices. According to Icra estimates cited in reports, oil companies were facing negative marketing margins of around ₹8 per litre on petrol and ₹9 per litre on diesel, resulting in losses of about ₹530 crore per day across petrol, diesel and LPG.
The latest hike could increase transportation and logistics costs if higher fuel prices spread across the market. There is also growing speculation that other fuel retailers could come under pressure to revise their prices if international crude remains above $100 per barrel.
